Cambiaso Risso makes P&I move

Cambiaso Risso Group, a top Italian name in hull & machinery insurance, has bought out Genoa-based Costa Brokers, a firm specialised in offshore and reinsurance market which also operates in protection & indemnity.

Riccardo and Andrea Costa will remain with the Genoa company, which is now set for international expansion.

Riccardo Costa commented: “We believe we found an international group which will allow us to go on supplying with the best assistance our historical clients that we particularly appreciate for the trust they granted us until today. We are convinced this operation will allow us to increase our portfolio in all lines of business where our company has been operating for over 32 years.”.

Cambiaso Risso recently widened its presence in maritime services with the acquisition of Genoa Sea Brokers, a company active in sale and purchase.

Cambiaso Risso Group formed a strategic alliance with French group Siaci Saint Honoré last year as part of sizeable expansion plans.

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.